Will County Democratic Central Committee - News

Published on Tuesday, March 5, 2013

Quinn’s $35.6 billion budget — 1 in every 5 dollars goes to pensions

Instead, the growth in spending goes toward covering $6 billion in pension obligations, up from $5.1 billion this year. Next year’s pension tab amounts to 19 percent of all state spending compared to just 6 percent of the state’s spending pie six years ago.

In fact, while the Quinn administration forecasts $817 million in new revenues coming into state coffers during the budget year beginning July 1, all of that money and more — $929 million — will go toward paying for added pension costs.

“This budget is a direct result of the inaction on stabilizing pensions,” said Jack Lavin, Quinn’s chief of staff.